📮 07-10-2019
📈 MarketCap: $227 B
📊 24h Mcap %: 4.93%
⚠️ Bitcoin Dom: 65.7%
Active Coins: 2,529
24h Vol %: 26.34%
24h Vol: $49 B
1. Samsung Pay, the mobile payments service of South Korean tech giant Samsung, has partnered with payments platform Finablr, Ripple’s RippleNet member, to offer cross-border payments feature Money Transfer to its app’s users. The new feature “offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.” United States-based Samsung Pay’s clients reportedly can use their debit or credit cards to send money via the service.
2. Crypto trading legend Peter Brandt says XRP may be hitting a long-awaited bottom against Bitcoin. Brandt, who is well-known in crypto circles for predicting Bitcoin’s colossal crash in January of 2018, says he’s seeing signs of a turnaround for the third-largest cryptocurrency by market cap. The forecast is a surprise move from Brandt. He has been bearish on XRP for months, and recently stated that he believes Ripple manipulates the price of XRP.
3. Exchanges offering fiat on-ramps into BTC and other crypto-assets should better woo new buyers with satoshi listings, believes Twitter personality. Bitcoin (BTC) has become counterintuitive due to its relatively high price. One BTC is now a very unusual unit, potentially putting off new buyers. A fraction of a BTC looks counter-intuitive, and instead, using the smallest unit, the satoshi, may make buyers shell out even a few dollars.
4. The Vanguard Group is testing a blockchain-powered platform that will allow asset managers to trade currencies while avoiding the big investment banks. The United States-registered investment advisor group, Vanguard, is going after a piece of the global currency market that handles $6 trillion each day.A source familiar with the matter said that the newly tested blockchain platform has been operational for over two months while handling several trades already.
5. Istanbul hard fork test opened a discussion on whether miners or core developers should be more influential. A blockchain developer at Polymath, sees several possible scenarios when changes are introduced to the Ethereum main net. 1) Neither miners nor devs compromise and we get two prominent chains. 2) Miners eventually move to the chain maintained by devs bcz it becomes unsustainable to run old chain. 3) Devs compromise since a chain without hashrate is insecure.
6. Mark Yusko, Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management Yusko noted that the idea of printing money was not fighting deflation but causing one. The statement was made as a weakening of the USD continued to make headlines. The demand for a safe-haven generally rises during market turmoil. The present scenario, which Yusko termed as a “deflationary death spiral”, could position Bitcoin as a quintessential safe-haven instrument. Yusko further added that Bitcoin is the cure to all of this.
7. Hong Kong's securities regulator, the Securities and Futures Commission (SFC), has released regulations for crypto fund managers. According to the document, virtual asset fund managers in Hong Kong should always maintain liquid capital of a minimum of 3 million Hong Kong dollars ($383,000) and its variable required liquid capital. The SFC also advised managers to adopt risk management and compliance policies, as well as policies for Anti-Money Laundering and Combating the Financing of Terrorism.
8. The dominance of Bitcoin continues to drop, which shows that the action is gradually shifting to altcoins. However, for the altcoins to continue their outperformance, Bitcoin has to either consolidate or move up gradually. In the event of a sharp drop in the leading cryptocurrency, a number of altcoins are likely to follow suit. Let’s analyze the charts of the top performers of the past seven days LINK, TRX, EOS, XRP, ADA and try to spot any reliable buy setups.
9. Malta-based cryptocurrency exchange, Binance, recently launched its American-exclusive trading platform, Binance.US. Catherine Coley, CEO of Binance.US, elaborated the zero trading fee that Binance.US is offering until November is another highlight of the platform. Coley revealed the reason behind the same, stating, “No fees for trading. One of my fillers is how can we reduce the hurdles to adoption? So if it’s a cost matter, we want to take that out of the equation.”
10. John McAfee has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain. McAfee DEX is set to run in a beta release status as of Oct. 7. McAfee DEX reportedly will entail no Know Your Customer checks, block no jurisdictions and charge a single platform fee of 0.25% for takers. It will not charge maker fees and will also reportedly be open sourced. McAfee believes the exchange can serve as “the door that frees us from Government's cornerstone of control: Fiat currencies. It can't be shut down.”
11. Escalating political tensions in Hong Kong and a potential economic and banking crisis in India has highlighted how fragile cash savings can be. Naturally Bitcoin would be the answer if adoption was greater and volatility was lower but the pluses for decentralized money are growing. As the crisis deepens more people could turn to Bitcoin as cash becomes a scarce commodity and fears of asset seizures escalate.